knowledge > economy

When we say oil and table olives

The 51st meeting of the Advisory Committee on Olive Oil and Table Olives was held on 24 April 2018 in Amman, Jordan. World olive oil consumption in 2017/18 is expected to reach 2 950 000 t, which is 8% higher than the last crop year. World consumption of table olives is expected to reach 2 786 000 t, which would be a 1% increase compared to the previous crop year

The 51st meeting of the Advisory Committee on Olive Oil and Table Olives was held on 24 April 2018 in Amman, Jordan. This Committee brings together professional representatives (producers, consumers, industry and trade) of the olive oil and table olive sector. In addition to presenting the activities of the IOC, the balance figures for the 2016/17 and 2017/18 crop years were analysed, observing changes in the latter compared to the data estimated in November 2017.

Olive oil - 2017/18 crop year

World production (Graph I) for this campaign was estimated in November 2017 at 2 988 500 t, but according to the most recent country figures received, production stands at around 3 271 000 t, which is a 27% increase (+697 000 t) compared to the previous crop year. This increase is driven in part by the group of European producer countries, which will as a whole grow by 22% year-on-year. Although production in Spain will decrease by approximately 3% at 1 250 000 t, it will increase by 137% in Italy (432 000 t); by 64.1% in Greece (320 000 t) and by 80.1% in Portugal (125 000 t). As a whole, these European producer countries will produce more than 2 143 000 t, which is an increase of 391 500 t on the last crop year. Furthermore, production in most IOC member countries will increase, and will reach an approximate total of 950 000 t, which is a 49.8% year-on year increase. Turkey leads this group of countries with a production of 263 000 t (+26%); followed by Tunisia with 280 000 t (+180%); Morocco with 140 000 t (+27%); Algeria with 80 000 t (+27%); Argentina with 37 500 t (+74%); and Jordan with 25 000 t (+25%). Conversely, Palestine is expecting a decrease of 2.6% at 19 000 t. Production in other IOC member countries will stay at similar levels as the previous crop year.

World olive oil consumption in 2017/18 is expected to reach 2 950 000 t, which is 8% higher than the last crop year. World exports of olive oil, although still provisional, are expected to reach approximately 975 000 t. European member countries are set to export more than 60% of the world’s total, with Spain in the lead with 304 2000 t (+4.4%); followed by Italy with 236 000 t (+18%); Portugal with 39 500 t and Greece with 9 800 t. The group of other member countries outside the European Union are expected to post an increase of 110.3% with a total of 349 500 t. Of these, Tunisia expects to export 200 000 t (+123.5%); Turkey 90 000 t (+100%); Argentina 30 000 t (+82%); Morocco 15 000 t (+114.3%); with the other member countries exporting smaller volumes. Exports from IOC member countries will account for 97% of the world total in this crop year.

Table olives - 2017/18

The 2017/18 crop year is set to be one of the best crop years to date in terms of global production of table olives, which is expected to reach approximately 3 020 500 t, for a 5% year-on-year increase (+142 000 t). European producer countries will see an overall 4% increase, while in this group of countries, Spain will undergo a 6% decrease and Italy and Portugal will see increases of 20% and 18%, respectively. The other IOC member countries expect to see an overall 12% increase, with individual growth in Argentina, Egypt, Israel, Jordan, Lebanon, Morocco, Tunisia and Turkey. Iraq and Libya expect to have a similar crop as last year. Production will decrease in Albania, Algeria, Iran and Palestine.

World consumption of table olives is expected to reach 2 786 000 t, which would be a 1% increase compared to the previous crop year, with the main increases in consumption observed in producer countries.

TASTE

A Tuscan PGIoil made by Terre dell’Etruria, a farming cooperative society that has invested all it has on its members, expertly helping and guiding them towards quality and success. The most impressive features of this extra virgin oil, flavour apart, are its remarkable quality/price ratio and extraordinary yield > Luigi Caricato

COOKING

Extra Virgin Garda DOP olive oil’s distinctive traits are its naturally delicate flavor and its elegance. At the taste it can be recognized for harmony or its organoleptic notes and for the light and balanced aromas: the scents of fresh grass, aromatic herbs, hay and artichoke, together with the typical almond aftertaste, make it unique. Recipe by chef Carlo Bresciani

WEB

Very few oil producers run blogs. Turri's, with its minimalistic design, is both simple and elegant. It is also available in English: posts are published at regular intervals and dispatched through newsletters > Luigi Caricato

OO VIDEO

The fruit of tradition, care and a passion for quality. Our story starts here, in Puglia. The beating heart of the Mediterranean Sea. This is the birthplace of our oil-making art, an art that has always considered olives as a living body. Video Spot Corporate by Masseria di Sant'Eramo

Data about olive oil & food

Olio Officina Globe is the English version of the Olio Officina Magazine,a periodical listed in the Press Registry of the Court of Milanregistration number 326 dated October 18, 2013 - featuring a selection of articles taken from the above magazine, as well as other contents supplied by the Olio Officina network.